ACL remain hopeful of reaching a Ricoh deal with Sky Blues

THE COMPANY which runs the Ricoh Arena is confident a deal with the Sky Blues over the current rent issue can be resolved before next week's deadline.

Stadium company ACL, which is jointly owned by Coventry City Council and the Alan Higgs Charity, issued the football club with a statutory demand earlier this month to pay over £1 million-worth of unpaid rent within 21 days or face a winding-up order.

The action was taken after the club rejected an offer by ACL to reduce the annual rent by almost two thirds to just £400,000 and they also gave them ten years to pay back the money owed.

Since then, the club have confirmed they have looked into the possibility of moving away from the stadium to fulfil their fixtures as tensions between the two parties reach boiling point after months of negotiating.

The Observer reported last week that talks had began again to discuss the issue and those meetings are ongoing as the Boxing Day deadline draws ever closer.

A statement from ACL confirmed: "ACL can confirm that they recently met with the owners of Coventry City Football Club, the Mayfair-based hedge fund Sisu and its chief executive Joy Seppala, to discuss the outstanding rent issue.

"Discussions are continuing. ACL remain hopeful of a resolution but, as yet, no agreement has been reached."